Egypt Daily News – Karim Badawi, Minister of Petroleum and Mineral Resources, held a fruitful session of discussions with Martina Opizzi, President of the North Africa and Arab Levant region of the Italian company Eni, in the city of New Alamein today.
The session concluded with the signing of an important agreement that includes strengthening Eni’s presence in Egypt, by intensifying research and exploration work and developing its fields in its concession areas. The agreement also included increasing the number of operating rigs to enhance production rates.
In addition, it was agreed to exploit Egypt’s strategic position as a regional center for energy trading to receive natural gas produced from Eni’s fields in the eastern Mediterranean, and to export it through its facilities in Egypt.
Badawy stated that the meeting witnessed a review of the positive results and activation of the outcomes of the meeting of Dr. Mostafa Madbouly, Prime Minister, with Martina during the Egyptian-European Investment Conference, which was held recently, in addition to the results of recent discussions with Guido Brusco, CEO of Natural Resources Operations at Eni.
He also stressed that Eni has a long history of success in Egypt, and that there are many promising investment opportunities to enhance its presence during the coming period. He stressed that this agreement is a strong impetus to attract more investments and increase production rates.
